Bitcoin ETF · Bitcoin · Democrats · US Congress · CryptoSlate
Bitcoin rebounds after Democratic sweep despite three days of ETF outflows
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Bitcoin rebounded above $78,000 on Wednesday after Democrats won both chambers of Congress, despite three consecutive trading sessions of US spot ETF withdrawals.
Key facts
- In its Oct. 28 market report, Glassnode estimated that about 4 million BTC held by long-term investors last moved between $85,000 and $118,000
- The survey's median year-end forecast was $76,450 under a Democratic sweep, compared with $84,100 under divided congressional control and $90,800 if Republicans retained both chambers
- The outflows began with $643 million on Oct. 30, followed by $399 million on Nov. 2 and another $116 million on election day
- Glassnode identified $84,000-$85,000 as a particularly difficult resistance zone, having repeatedly rejected Bitcoin rallies throughout 2026
Summary
01 Bitcoin rebounded above $78,000 after Democrats won both chambers of Congress, while US spot ETFs had recorded three consecutive sessions of withdrawals. 02 US spot Bitcoin ETFs lost approximately $1,157 million over the three trading sessions ending Nov. 3, adding a demand hurdle to the recovery. 03 Ryan Kirkley's $85,000-$90,000 year-end forecast depends on stabilizing ETF flows, improving liquidity and renewed macro confidence. The Democratic victories in Tuesday's midterm elections dealt President Donald Trump a political setback.